Swerve price prediction: What is Swerve (SWRV)?

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Can SWRV maintain its recent gains?

Swerve                                 
Can Swerve cash in after its price shot up? - Credit: Blockcast.cc
                                

Contents

The SWRV cryptocurrency has garnered a lot of attention lately as it defied a bear market with a sudden price rise. But what is Swerve? Let’s find out, and see what we can learn about the Swerve price prediction, too. 

Swerve explained

One thing that people who get involved with cryptocurrency all want to do at some point is to buy, sell, or trade crypto. That, normally, is pretty straightforward. You sign up to a crypto exchange, see what’s available, see what the price is, and make a decision.

That said, there might be some problems that one could, potentially, face. First, someone might be put off by the increasing number of Know Your Customer checks. Second, there might be a problem with the amount of liquidity in the system, which would mean that it would be harder to make trades. Third, there is always going to be a concern among some crypto enthusiasts regarding how centralised a system is. If blockchain technology is all about privacy, then there may well be people who are concerned about giving away their details and data.

This is where Swerve comes in. The idea behind the Swerve platform is that it serves as an automated market maker, which means that it uses a mathematical formula to ensure there is a constant balance of assets in liquidity pools which, at least in theory, helps to regulate the prices of the assets.

If prices in automated market makers diverge too much from market price on other exchanges, traders are given incentives to take advantage of the price difference, thus balancing things out. 

What makes Swerve a little different is that is, mainly, focused on working with stablecoins, cryptocurrencies that are pegged to a fiat currency, usually the US dollar. In this regard, it is similar to Curve, the project from which it forked. Swerve’s founder is the pseudonymous John Deere, who set up the network in response to what he believed was the overly centralised nature of Curve.

Every network needs its native token and Swerve is no different. Its own cryptocurrency, SWRV, is given to people who deposit crypto in the system’s liquidity pools. It is also used for governance purposes, letting holders participate in votes on changes to the network. It can also be bought, sold, and traded on exchanges. SWRV operates on the Ethereum blockchain, meaning that it is, technically, a token rather than a coin. You will, however, hear references to the Swerve coin but, don’t worry, it is the same thing.

One thing to point out is that, at the time of writing (28 June 2022), Swerve’s website is down following the expiry of its domain in September 2021, which may serve as a potential red flag to investors.

It is also worth noting that the person behind Swerve uses a tractor-based pseudonym. While pseudonyms are common in decentralised organisations, there is an argument that they may not be suitable investment choices for people looking for accountability. 

SWRV price history

It’s now time to examine the SWRV price history. While past performance should never be taken as an indicator of future results, knowing how the crypto has performed in the past can give us some very useful context when it comes to making a Swerve price prediction.

When SWRV came onto the open market in September 2020, it was at a very high level and, not long after it launched on 5 September that year, it reached its all-time high of $42.22. As is not uncommon with newly-launched cryptocurrencies, though, the price soon fell and by the end of the year, the token was worth $0.3886.

Early 2021 was a really profitable time for cryptocurrency, with many tokens moving upwards as the market got busier and busier. While SWRV was never able to reach the same heights as it did shortly after launch, it was able to grow in price, breaking back through the dollar in February and continuing to rise to reach a periodic high of $3.28 on 11 April.

By the middle of May it was already on the downturn, though, and the events of the Great Crypto Day Crash of 19 May 2021 had a lasting impact on the Swerve price, with a nadir coming on 20 July when it fell to $0.4811.

In August, however, the market regained upward momentum, with the token recovering to trade briefly at more than $1 on 26 August before closing the month at $0.8673. September started with a price boost, reaching $1.98 on 8 September, before things quietened down, with the price of Swerve at the end of October coming in at $0.5963.

In early November, the market picked up again in a response to Bitcoin reaching new heights. There were some gains for SWRV and it peaked at $0.8023 on 4 November. After that, though, the SWRV price and the market dipped overall and, as concerns about the Omicron variant of Covid-19 started to have an impact, it closed the year at $0.3049. 

SWRV price history
SWRV price history - Credit: Currency.com

So far, 2022 has been a weak year for crypto, at least compared to the gains it made in 2021, and SWRV has, mostly, followed the overall trends. There was some price growth in early January, with it reaching $0.3245 on 3 January, but it closed the month at $0.1546, roughly half of where it was at the start of the year.

February saw a price spurt to $0.3407 on 17 February, but when Russia invaded Ukraine on 24 September, it fell to $0.1506. March was a month of some recovery, with a high of $0.3182 on 7 March and a closing price of $0.2624. Meanwhile, April saw China’s crypto ban turn the market downwards and it closed at $0.1375.

If that was bad, then May was worse. The de-pegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency saw the market enter a difficult time and, on 12 May, it sank to an all-time low of $0.03395. After that, though, there was some recovery and it ended the month at $0.06029.

It looked as if the token was doomed to another bad month in June, when the cancellation of withdrawals on the Celsius lending platform saw it confirmed that the cryptocurrency market had turned bearish, but something happened towards the end of the month that would have been a very pleasant surprise for investors.

The token started 26 June at $0.07364 and, over the course of mere hours, shot up to $2.28, a rise of nearly 3,000%. While it then fell back, it still managed to close the day at a pretty respectable $0.2875. The following day, it hit a high of $0.6409 and a close of $0.3719 and, by the afternoon of 28 June 2022, it was worth about $0.35.

At that time there were a little over 17.1 million SWRV in circulation out of a total circulation of just over 19 million, giving it a market cap of around $6m, which made it the 870th largest cryptocurrency by that metric. 

Swerve price prediction

With that all said and done, let’s take a look at the Swerve price prediction. Before we do that, though, we need to remind you that price forecasts, especially for something as volatile as cryptocurrency, are very often wrong. We also need to say that longer-term crypto price predictions are often made using an algorithm, which means that they can change at any time.

First, CoinsKid has a Swerve price prediction for 2022 which sees it reach $0.6135 in December this year before it gets to $0.6665 in June 2023, while a year from then it should be worth $1.38. In June 2025, the site says, SWRV should be worth $2.52, while in June 2026 it should hit $4.14, reaching $5.59 in September of that year.

Next, TechNewsLeader’s SWRV price prediction says it should get to $0.087 this year before reaching $0.13 next year and $0.18 the year after that. In 2025, it should be worth $0.27, while 2026 should see it come in at $0.39 and 2027 will see it trade at $0.56. In 2028, the token should be $0.78 and it should close the decade having broken through the $1 mark to trade at $1.20. The site has a Swerve price prediction for 2030 which sees it worth $1.74 before it reaches $2.53 in 2031.

Meanwhile, CoinArbitrageBot has a very bullish Swerve coin price prediction, suggesting that it can shoot up to $3.17 this year, a near-tenfold rise from current levels, while it says the growth should continue in 2023, when it should be worth $5.64. In 2024, if the site is to be believed, SWRV should be worth $9.14, while there is a Swerve price prediction for 2025 that sees it valued at $14.78. 

Finally, Gov Capital takes a very opposing view when it comes to its Swerve crypto price prediction. The site says that the token should struggle throughout July 2022, dipping down to be worth basically nothing by July 23. This would mean that it would become a de facto dead coin and, the site says, it will remain worthless for at least another year.

Final thoughts

Before we finish, some final points. First, it is worth remembering that Swerve’s website is down and its Twitter account has not been updated by Swerve itself since September 2021, and that was to warn people that the site had expired. We have no idea if and when the site will be back up, but the lack of a single place to learn about the system and the SWRV token might put some people off.

Second, the concept of a fully decentralised automated market maker might well be interesting and worthwhile, but it is also a rather niche project. It is unlikely that SWRV is the token to bring crypto further into the mainstream.

Finally, it is worth remembering that its founder, John Deere, uses a pseudonym. While this is not uncommon, especially for projects based on decentralisation, this sort of lack of transparency could well see people decide to put their money elsewhere. As always with cryptocurrencies, it makes sense to be careful. 

FAQs

As of 28 June 2022, there were there were a little over 17.1 million SWRV in circulation out of a total supply of just over 19 million.

Potentially. On one hand, it has made something of a recovery lately but, on the other hand, it has been on a mainly downward trajectory over the course of its existence. You will need to do your own research before you invest.

It is hard to tell. A lot will depend on whether it can hold its recent position, and how quickly the cryptomarket can get out of its bear state. Remember, too, that crypto can be very volatile and prices can go down as well as up.

You will need to answer this question for yourself. Before you do so, you will need to do your own research, remember prices can go down as well as up, and never invest more money than you can afford to lose.

Further reading

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